Kerala High Court
Joseph C. A vs The Assistant General Manager on 9 August, 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
WEDNESDAY, THE 9TH DAY OF AUGUST 2023 / 18TH SRAVANA, 1945
WP(C) NO. 2312 OF 2022
PETITIONER:
JOSEPH C. A., AGED 60 YEARS
ADVOCATE CHURATHIL HOUSE, KUDAYATHOOR P. O.,
THODUPUZHA, IDUKKI DISTRICT, PIN - 685587.
BY ADV AYSHA RAHMAN
RESPONDENTS:
1 THE ASSISTANT GENERAL MANAGER
ZONAL OFFICE, STATE BANK OF INDIA, PANAMPALLY NAGAR,
KOCHI, ERNAKULAM DISTRICT.
2 THE CHIEF MANAGER
STATE BANK OF INDIA, RACC, THODUPUZHA, IDUKKI
DISTRICT, PIN - 685587.
3 THE BRANCH MANAGER
STATE BANK OF INDIA, MUTTOM BRANCH, THODUPUZHA,
IDUKKI DISTRICT, PIN - 685587.
BY ADVS.K.K.CHANDRAN PILLAI (SR.)
S.AMBILY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C)NO.2312 OF 2022
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JUDGMENT
Dated this the 9th day of August 2023
The writ petition is filed to direct the respondents
to permit the petitioner to pay the overdue amounts in
instalments and regularise the loan accounts.
2. The petitioner's case is that, he had availed two
loans from the respondent - Bank by creating an
equitable mortgage by deposit of title deeds. Due to
Covid 19 pandemic and other reasons beyond his
control, he could not pay the instalments on time. The
respondents have now issued Ext.P1 notice under
Section 13(2) of the Securitization and Reconstruction
of Financial Assets and Enforcement of Security
Interest Act (in short, 'Act') demanding the petitioner to
close the loan accounts. The petitioner is willing to pay
the overdue amount in equated monthly instalments
WP(C)NO.2312 OF 2022
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and regularise the loan accounts. Hence, the writ
petition.
3. Heard; Sri.Aysha Rahman, the learned counsel
for the petitioner and Smt.S.Ambily, the learned
counsel appearing for the respondents.
4. Smt.S.Ambily, on instructions, submitted that
the petitioner had availed three loans - one educational
loan and two other loans. The overdue amount in the
educational loan is Rs.64,702/-. The petitioner will have
to pay the said overdue amount in one instalment. In
respect of the other two loans, the amount due is
Rs.7,77,162/-. The respondents are willing to permit
the petitioner to pay the above overdue amount in the
said loan accounts in six equated monthly instalments.
The said submission is recorded.
5. The learned counsel appearing for the petitioner
submitted that the petitioner is ready to accept the
above offer made by the respondents.
WP(C)NO.2312 OF 2022
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6. Having considered the pleadings and materials
on record and the submission made by the learned
counsel appearing for the parties, I am inclined to
exercise the powers of this Court under Article 226 of
the Constitution of India and dispose of the writ
petition.
Resultantly, I dispose of the writ petition in the
following manner:
(i) The respondents are directed to defer further
coercive proceedings pursuant to Ext.P1 to
enable the petitioner to pay the overdue
amount in instalments.
(ii) The petitioner is permitted to pay the overdue
amount of Rs.64,702/- in the educational loan
on or before 8.9.2023 along with regular
instalments.
(iii) The petitioner is also permitted to pay the
overdue amount in the two loan accounts
amounting to Rs.7,77,162/- in eight equated
monthly instalments commencing from
9.9.2023 along with regular instalments.
(iv) Needless to mention, if the petitioner commits
default of the condition ordered above, he
would lose the benefit of this judgment and
WP(C)NO.2312 OF 2022
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the respondent would be at liberty to proceed
with recovery proceedings from the stage it
presently stands.
(v) It is made clear that, no further application for
modification/extension of time shall be
entertained.
sd/-
C.S.DIAS
JUDGE
jes
WP(C)NO.2312 OF 2022
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APPENDIX OF WP(C) 2312/2022
PETITIONER'S EXHIBITS:
Exhibit P1 TRUE COPY OF THE NOTICE DATED 12.01.2022
ISSUED 2ND RESPONDENT.
